Short Interest in MAG Silver Corp. (NYSEAMERICAN:MAG) Decreases By 17.3%

MAG Silver Corp. (NYSEAMERICAN:MAG) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 1,860,000 shares, a decrease of 17.3% from the February 28th total of 2,250,000 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average trading volume of 598,500 shares, the days-to-cover ratio is presently 3.1 days.

Institutional Investors Weigh In On MAG Silver

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in MAG Silver during the 3rd quarter worth approximately $52,000. DF Dent & Co. Inc. bought a new stake in shares of MAG Silver in the third quarter worth $140,000. Aigen Investment Management LP bought a new stake in shares of MAG Silver in the fourth quarter worth $156,000. D. E. Shaw & Co. Inc. acquired a new stake in MAG Silver in the fourth quarter valued at $156,000. Finally, Verition Fund Management LLC bought a new position in MAG Silver during the 3rd quarter worth $168,000. Institutional investors own 52.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MAG. TD Securities upgraded MAG Silver to a “strong-buy” rating in a research report on Monday, March 10th. Roth Capital set a $16.00 target price on shares of MAG Silver in a research report on Tuesday, March 25th. Roth Mkm reduced their price target on shares of MAG Silver from $16.50 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Raymond James reissued an “outperform” rating on shares of MAG Silver in a research note on Tuesday, March 25th. Finally, HC Wainwright upped their target price on MAG Silver from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, March 25th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

MAG Silver Price Performance

MAG stock traded up $0.11 during trading on Wednesday, reaching $15.47. 587,204 shares of the company were exchanged, compared to its average volume of 629,900. The company has a market capitalization of $1.60 billion, a P/E ratio of 21.79 and a beta of 1.09. The business’s 50-day moving average is $15.75. MAG Silver has a twelve month low of $11.29 and a twelve month high of $18.27.

MAG Silver Dividend Announcement

The company also recently declared a — dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, April 4th will be paid a $0.18 dividend. This represents a dividend yield of 1.5%. The ex-dividend date is Friday, April 4th. MAG Silver’s payout ratio is 101.41%.

MAG Silver Company Profile

MAG Silver Corp. develops and explores for precious metal properties in Canada. It explores for silver, gold, lead, copper, and zinc deposits. The company's flagship property is the 44% owned Juanicipio property located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp. is headquartered in Vancouver, Canada.